Does the Federal Reserve Pay Taxes?

GOP Presidential Nomination Race (2011-12): How viable is Ron Paul's proposal to slash $1 trillion from the budget, eliminate five federal bureaucracies, rein in the federal reserve, end nation building, pay down the debt and cut taxes?

Harry Raymond at Quora Visit the source

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Politically, it's an open question. Elections decide that. Economically, said that you determine a government's drain on the economy by looking at spending and not taxes. Friedman liked both at a minimum. Keynesians will tell you that 's proposal would make the economy weaker. To get a better answer, you'll have to explain what you mean by "viable."

Mark Hofer

Quick perusal suggests that it will do what it says it will do, and thus is viable.

Erik Fair

If a plan cannot pass in Congress, it's not viable -- regardless of the business and/or academic merits of the plan.

Jim Kenyon

As a few internet commentators have pointed out, cutting 1 trillion out of the budget would take us back to the "austere" days of... wait for it... 2007.

Peter Klein

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